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SAMEER JAIN
Saurabh Agrotech Pvt. Ltd. – Appellant
Versus
Vijay Solvex Limited – Respondent
JUDGMENT :
SAMEER JAIN, J.
1. The instant appeal is preferred with the following prayers:
(a) Admit the present appeal and call for the record of CP No. 23/111/2010 with CA No. 167/13 from the Company Law Board, New Delhi Bench, New Delhi.
(b) Set aside the order dated 22/10/2014 passed by the Company Law Board, New Delhi Bench, New Delhi in CA No. 167/2013 in CP No. 23/111/2010.
(c) Allow CA No. 167/2013 filed by the appellants before the learned Company Law Board, New Delhi Bench, New Delhi.
(d) Pending hearing and disposal of the present appeal, stay further proceedings in the subject Company Petition being CP No. 23/111/2010 pending before the Company Law Board, New Delhi Bench, New Delhi.
(e) Pass ad interim ex-parte order in terms of prayer (d) above.
(f) Pass such other or further orders as this Hon’ble Court may deem fit and proper in the facts and circumstances of the case.”
2. For the sake of convenience the provisions relied by the parties are tabulated herein-below:
| Provisions of law | Head note | Statute |
| Section 2(29) | Definition - ‘Court’ | C |
The Companies Act, 2013 bars civil court jurisdiction in company disputes, mandating adjudication by the National Company Law Tribunal.
The court established that the NCLT must conduct a thorough examination of evidence in cases involving rectification of the Register of Members under the Companies Act, 2013.
When a specialized tribunal is empowered by statute to adjudicate disputes involving company oppression and mismanagement, including the authority to grant interim injunctions, the jurisdiction of ci....
The jurisdiction of the Civil Court is not ousted by Section 430 of the Companies Act, 2013, in cases where the dispute involves allegations of fraud and breach of fiduciary duty by an auditor of a c....
Power can only be given by the board of directors of the company in exercise of its statutory power by passing the resolution under the provisions of Section 291 of the Companies Act in favour of a d....
The judgement establishes that shareholders holding not less than one-tenth of a company have the right to apply under the Companies Act for remedies regarding oppression and mismanagement.
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